If oil prices are too high would this be a bearish sign concerning the CAD? I am new to this but doesn’t the CAD trade somewhat in relation to the price of oil?
Yes Chris usually if crude oil heads up that will make the us dollar weak and knowing that cad is the largest producer of oil so the CAD will be the strongest and the USD dollar the weaknest bottom line if crude oil heads up usd/cad will go down (cad strenght) and if crude oil heads down usd/cad will rise (cad weak and usd dollar strong).
Thanks Wayne
If oil prices are too high would this be a bearish sign concerning the CAD? I am new to this but doesn’t the CAD trade somewhat in relation to the price of oil?
Yes Chris usually if crude oil heads up that will make the us dollar weak and knowing that cad is the largest producer of oil so the CAD will be the strongest and the USD dollar the weaknest bottom line if crude oil heads up usd/cad will go down (cad strenght) and if crude oil heads down usd/cad will rise (cad weak and usd dollar strong).
Have a good one.
Cheers!!
Cananas